Royal Bank of Canada Has $610,000 Stock Holdings in ARMOUR Residential REIT, Inc. $ARR

Key Points

• Royal Bank of Canada cut its ARMOUR Residential REIT stake by 62.9% in the first quarter, selling 62,053 shares and retaining 36,543 shares valued at approximately $610,000.
• Other institutional investors made significant purchases, including First Trust Advisors, which increased its holdings by 234.6%. Institutions and hedge funds collectively own 54.17% of ARR.
• ARR reported quarterly earnings of $0.72 per share, in line with estimates, and declared a monthly dividend of $0.24 per share, representing a 17.6% annualized yield. Analysts have a consensus “Hold” rating and an $18.50 price target.

Royal Bank of Canada trimmed its position in shares of ARMOUR Residential REIT, Inc. (NYSE:ARR - Free Report) by 62.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,543 shares of the real estate investment trust's stock after selling 62,053 shares during the quarter. Royal Bank of Canada's holdings in ARMOUR Residential REIT were worth $610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Independent Financial Group LLC acquired a new stake in ARMOUR Residential REIT during the 1st quarter worth $1,458,000. First Trust Advisors LP lifted its holdings in ARMOUR Residential REIT by 234.6% during the first quarter. First Trust Advisors LP now owns 664,247 shares of the real estate investment trust's stock worth $11,080,000 after acquiring an additional 465,733 shares in the last quarter. UBS Group AG grew its stake in ARMOUR Residential REIT by 4.1% in the fourth quarter. UBS Group AG now owns 1,154,875 shares of the real estate investment trust's stock valued at $20,430,000 after acquiring an additional 45,023 shares during the period. Simplify Asset Management Inc. acquired a new position in ARMOUR Residential REIT in the fourth quarter valued at about $1,380,000. Finally, Thrivent Financial for Lutherans grew its stake in ARMOUR Residential REIT by 38.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 112,123 shares of the real estate investment trust's stock valued at $1,983,000 after acquiring an additional 30,915 shares during the period. Institutional investors and hedge funds own 54.17% of the company's stock.

ARMOUR Residential REIT Stock Up 0.2%

Shares of ARR stock opened at $16.37 on Tuesday. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 4.40 and a beta of 1.37. ARMOUR Residential REIT, Inc. has a 12-month low of $13.98 and a 12-month high of $19.31. The firm has a fifty day moving average of $16.73 and a 200-day moving average of $17.08.

ARMOUR Residential REIT (NYSE:ARR - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.72 earnings per share for the quarter, hitting analysts' consensus estimates of $0.72. The firm had revenue of $113.29 million during the quarter, compared to analyst estimates of $111.98 million. ARMOUR Residential REIT had a net margin of 44.90% and a return on equity of 15.10%. On average, equities analysts expect that ARMOUR Residential REIT, Inc. will post 2.93 EPS for the current year.

ARMOUR Residential REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.24 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date is Monday, August 17th. ARMOUR Residential REIT's payout ratio is 77.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research raised ARMOUR Residential REIT from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings lowered ARMOUR Residential REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ARMOUR Residential REIT currently has a consensus rating of "Hold" and a consensus price target of $18.50.

About ARMOUR Residential REIT

ARMOUR Residential REIT NYSE: ARR is a mortgage real estate investment trust that was formed in 2008 to acquire and manage a portfolio of residential mortgage-backed securities (RMBS). The company's investments are primarily agency-sponsored and agency-guaranteed RMBS issued by U.S. government-sponsored enterprises, along with credit risk transfer securities and select non-agency residential and multifamily RMBS. By focusing on high-quality mortgage assets, ARMOUR Residential REIT seeks to generate stable income and preserve capital through diversified exposure to the U.S.

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